Stock options and equity are words you may see in the ‘career perks’ section of many Work in Startups job descriptions. What does this perk actually mean for you, a potential startup job-holder? Here is our run-down all about startup equity as an employee. […]

Startup Equity: Give me my options!

Stock options and equity are words you may see in the ‘career perks’ section of many Work in Startups job descriptions. What does this perk actually mean for you, a potential startup job-holder? Here is our run-down all about startup equity as an employee.

Mini-Glossary

Option: an agreement to purchase a share in a company at a future point in time for a set price.

Vest: the period over which the options issued are earned by you. Once vested they can generally not be taken away from you unless you chose not to exercise.

Exercise: The action of buying the share off the company for the option price. You pay the company cash and then become a shareholder.

A Liquidity Event: This is the time when you get to cash in your stock (often an IPO or an exit).

What to look for in equity

If equity and stock options are something you want in a startup job then it is worth finding out a few pieces of information either when looking for a role or at the point of interview:

Quantity: how much of the company do you or will you own? Pretty self explanatory!

Type: do you have stock options or restricted stock?

Stock Options – this is the right to buy shares at a predetermined price (or “strike price”). You then exercise these at a time of your choosing and acquire ownership of the shares.

Restricted Stock – the stock is granted (given) to you under conditions, like vesting…

Vesting: how long will it take, and under what conditions, do you assume all the shares you are entitled to. More often than not: you don’t accrue your shares in the first year of employment and then gradually gain them over the next three years (although this is different in each startup). Bare in mind that if you switch jobs you may not have acquired your whole equity package!

Exit Strategy – does the company plan to go public, and if so, when? If the startup fails or plans to never sell then you may not see the cash behind the stock.

So: what have I got to lose?

Should you look for stock options when considering a startup role? In short: it depends.

Obviously, the value of your shares depend on the success of the company as a whole, so make sure you are investing your time (and money) into a project you believe in. This is particularly true for co-founding roles where equity is the main form of compensation. We also do not recommend applying for a role unless there is an interesting day-to-day and it benefits your career long term.

There are so many roles that are both interesting and reward you with awesome benefits like equity on Work in Startups. Give them a look!

Here at Work in Startups, we are often asked what types of companies we classify as a startup (and similarly, what it takes to make it onto our site!) In the interest of transparency, we thought we’d expand on how we think a “startup” differs from other labels commonly tossed around, such as “scaleup”, “SME”, […]

What is a ‘startup’?

Here at Work in Startups, we are often asked what types of companies we classify as a startup (and similarly, what it takes to make it onto our site!) In the interest of transparency, we thought we’d expand on how we think a “startup” differs from other labels commonly tossed around, such as “scaleup”, “SME”, or even “small business”.

Full Disclosure: it is highly subjective! There is no single, universally accepted definition of a startup. It’s a much more broad-reaching term than others you might hear such as ‘unicorn’ (a privately held startup company valued at over $1 billion). Confusion is possibly rooted in the rise of companies keen to define themselves as a startup (it’s a sexy tag after all), even when they don’t fulfil many of the characteristics that others would deem essential.

What are the features of a startup

In our humble opinion, these tend to be the two key features that differentiate a startup from any old company:

Growth – is it expanding and growing rapidly, in terms of either customers, new jobs or financials? Yes? Potentially this company is a startup! There’s a relatively widely shared blog post on this which goes into much more detail on why this angle is often considered the most important: http://www.paulgraham.com/growth.html

Innovative – the startup industry has become culturally synonymous with the concept of disruptive business models. For us, a startup needs to offer something fresh!

Often but not always: a tech focus or component, VC funding (or likely potential to receive/qualify for funding in the near future), some element of risk (not a traditional service with hundreds of comparables), interesting employee perks and an “owner culture” (which could mean equity awards readily available to staff).

Meanwhile, these features can help the eagle-eyed spot where a company is on its journey to unicorn status (i.e. when is it likely no longer a startup):

New – the exact age before a company falls into ‘scaleup territory’ is up for debate: some experts set as low as three-years-old as this cap. We modestly say about five-years-old, absolute maximum ten.

Small – headcount (like age) is a nice marker for when a company has graduated to ‘scale-up status.’ We think this happens when you exceed roughly 100-200 members of staff.

Revenue – as with all of the numbers in this list, a revenue of more than £10 million is a rough metric, to give you a general feel. Effectively: no unicorns allowed!

At Work in Startups, we think that growth (or growth potential) is the most important identifier for startups. While our opinion is based on rather a lot of startup companies and job ads, we wanted to see what our lovely and knowledgeable twitter community thought. Interestingly they had other ideas…

As you can see the results overwhelmingly favoured how recently the company was founded – although it is clear that growth is quite important! This really suggests that checking a variety of metrics (cue our handy-dandy list) is the only way for us to truly hunt the next unicorn!

Note: we include a combination of start up and scale up jobs on our site, as despite the terminology being murky, we tend to find our audience is broadly interested in both. Do feel free to get in touch though if you have any comments on this!

Great, so you’ve posted your latest job ad(s) on the Work In Startups platform and are all set. Surely there’s nothing more you can do before the startup applicants come streaming in, right? Wrong! Here are three immediate (and free!) things you can do to help increase your job’s candidate exposure. Whether you’re hiring for […]

Getting the most out of your Work In Startups ad!

Great, so you’ve posted your latest job ad(s) on the Work In Startups platform and are all set. Surely there’s nothing more you can do before the startup applicants come streaming in, right? Wrong!

Here are three immediate (and free!) things you can do to help increase your job’s candidate exposure. Whether you’re hiring for a product manager, intern or even your next top developer – make sure you give these a try!

1) Share your job ad across social media – Don’t be shy! Grab the link to your latest job ad and post it across both your company and personal Facebook, LinkedIn and Twitter accounts. Get your colleagues and friends to like, retweet and share the jobs as well. Sharing is caring when it comes to startup hiring! We have share buttons for all your favorite socials on every ad!

2) Post the job ad in relevant groups and channels – Hiring for a Marketing Manager job in London? Then make sure you share the ad in Facebook groups or slack channels where the ideal candidate might hang out. London Tech Startup Jobs is a classic example – post a link to your job there and pitch! There are plenty of equivalents – find your community!

3) Review your ad and make sure all the key messages are there – The best start up job roles and ads contain clear information on:

Clear specifics of the position. What 5-10 things will the candidate actually be doing or have responsibility for, and who will they report to?

The ideal candidate’s qualification / experience requirements vs. their nice-to-haves. What can’t you live without?

Your company’s background, mission and why you’re an exciting place to join

Any cool benefits and other selling points. Brag about your amazing office, table tennis table, equity opportunities or perks – applicants have choice and they care!

Salary. If you’re not sure, try and give an approximate range or at least state that you’ll be competitive. Jobs with an explicit salary range are 60% as likely to attract candidates, so post it if you can!

If your job advert is missing any of these, go back and edit your role on your My Jobs page! Being clear now will both attract more candidates and save you explanatory time at interview!

Of course, if all else fails then don’t forget to consider putting a bit of budget behind your ad by checking out our paid features here. They generate about three-times the response by getting your ad in front of a much larger startup jobseeker audience – worth a shot!

The sweet smell of holidays is in the air and if among your new year’s resolutions you have a career change, then you are in luck. We have put together a diverse list of amazing jobs in up and fresh startups to speed up your job hunting process. What better present than a shiny new […]

5 open positions you have to check out before the holidays

The sweet smell of holidays is in the air and if among your new year’s resolutions you have a career change, then you are in luck. We have put together a diverse list of amazing jobs in up and fresh startups to speed up your job hunting process. What better present than a shiny new position in an amazing tech startup?

Hi, we’re KeyAGENT – a multi award winning supplier of professional photography to Estate Agents across the UK. We’re a passionate bunch working from the coolest offices south of the river trying to change the world!As a company, we strive to make sure that each day strikes a balance of both challenging and fun, so this isn’t a role for a timid individual who just wants that 9 -5 office job as a means to an end.

Job requirements:

You’ll own our recruitment function, which is something we have no desire to do traditionally. We want you to be creative with your sourcing of amazing talent, and with the candidate experience generally! We want the recruitment of new staff members to be as enjoyable and rewarding as possible for everyone involved. But, critically, you need to do this swiftly and effectively, we have big plans and we need stellar individuals to come on board and see those plans through to reality.

At OVO, technology and digital products are at the heart of our customer experience and they are key to our commercial success.We were the first energy company to offer our Pay As You Go customers the opportunity to top up using their phone, the first company to offer real time electricity and gas usage data, and the first to release an apple watch App. We’ve been featured in Wired magazine for our ability to develop software to shatter the status quo.

JustPark is reinventing parking for the digital age. We help drivers to make smarter parking decisions – providing them with access to over 20,000 car parks, garages and driveways via our website and app, and allowing them to reserve and pay for a space in seconds.

Job requirements:

We would like you to have the following skills and experience:

Experience within a customer facing environment

Great communication skills – you’re going to have to enjoy speaking to people!

We are Appraisd, and we’ve built a fantastic tool used by 100’s of organisations to improve the way employees are managed, developed and engaged. Although we’re a very small team, you could call us an established start up. We’re funded entirely by our customers. There’s no hype, we simply sell a great product.

Job requirements:

We’re looking for an experienced front-end developer to work directly with me (the founder) and our CTO and UI designer to make a step-change to Appraisd’s front end architecture and design. We have heaps of interesting challenges to solve, many of which you’ll have never come across before so you’ll need to be creative!

Taggstar is the global leader in social proof messaging. We’re a scalable SaaS software platform deliveringreal-time, crowd-powered product messaging on the largest and fastest-moving global e-commerce and travel web sites. In the UK we deliver over a billion messages a month for Very.co.uk, Missguided, JD Sports, Argos, House of Fraser, Littlewoods, SimplyBe, Jacamo, JD Williams, Thomson, TUI/ First Choice and more.

Job requirements:

We are looking for a Customer Success Manager with experience of working on software delivery projects (ideally SaaS) within an agile environment, from initial specification through to QA and onboarding. You will be able to apply appropriate project management methods gained from previous experience and know how to communicate and negotiate with stakeholders to ensure timely delivery of a project.

You did everything by the book, you put all your efforts into the search, did a good impression at the interview, but in the end you didn’t get the job. This situation is well known to anyone who has been ever job hunting or looking to switch careers. While it might take a toll on […]

Didn’t get the job? What now?

You did everything by the book, you put all your efforts into the search, did a good impression at the interview, but in the end you didn’t get the job. This situation is well known to anyone who has been ever job hunting or looking to switch careers. While it might take a toll on your morale and put you in a vulnerable position as a job seeker, this does not have to be something that brings you down, but rather keep you looking for the best thing out there.

The fact that you didn’t get the job can be frustrating, nerve racking and downright depressing but instead of dwelling on all these emotions, try to focus more on what you want out of a job and what you can learn out of this process.

First of all treat the interviewing process as a learning experience. What did you like and didn’t like about it? What kind of interview makes you feel comfortable and what were the recruiters most impressed about regarding your candidature? This will not only make the next interviews go smoother but will also pinpoint what are your strengths and weaknesses in an interview, allowing you to make a better impression next time.

Second of all, why is it that you wanted this job so badly? It’s true than when job seeking, a candidate must jump through dozens of loops and hoops, but only rejection from the jobs we consider “dream jobs” affect us that much. Turn the feeling that you lost something valuable into a weapon to aid you in finding something even more so. Make a list of all the criteria that made that specific job amazing for you and use it to narrow your job search to similar position in other companies.

Keeping your efforts focused on the prize you really want, rather than applying to a bunch of jobs that meet a general impression of what you think you want, will guarantee that you will land a job that not only suits you, but makes the whole pain of the job seeking process worth it.

Next, comes a step you might have ignored so far but does not lack importance compared to the others: send a reply. That’s right, reply to that dreaded email you got, saying that you didn’t get that job. Send a thank you email, for the time the recruiter has given you, the info about the job and any other things that happened in the interview process. This can go several ways, depending on your experience. You can use this opportunity to ask for feedback – mention you are looking at several similar positions and that you are looking to improve your candidature, or to let them know you would like to be considered for any similar future opportunities in the company.

Last but not least, don’t put all your eggs in one basket. Realistically speaking, neither do recruiters. They can have up to 4 interviews for a position, eliminating candidates in each stage based on practical tests, one on one interviews, studies and different criteria niched to that specific position. This does not mean that you should rain resumes on all the positions available, but invest time wisely and put effort in a moderate amount of applications.

Let’s say you apply to two jobs per day. Just two. Take your time to research and make sure these jobs match what you want and your level of experience. Write well thought, researched cover letters to the recruiter, even when a cover letter is not required. This will show that you are excited about the company you are applying to and you are serious about working for them. Personalize your resume in order to fit different variations of the same position, by highlighting the skills and experience most relevant to the one you are applying to.

In a week’s time you will have 10 excellent applications, in two weeks you’ll have 20 and so on. Even if you don’t get an immediate response to your applications, think of this as a long term strategy and don’t be afraid to follow-up for a response. By using this strategy, you can build your own job funnel and be empowered when it comes to choosing what position you should go for.

In the end, always remember that as a candidate you are hot property for any company, the need for amazing candidates is higher than ever, especially on the startups scene.

And if you are on the lookout for a new career right now don’t forget to check www.workinstartups.com for the latest tech startup vacancies!

Building a business from scratch is not easy and the number one factor that can influence the growth and development of a startup, is of course, talent. From management positions to sales and software development see which one of these positions would suit you the best: Managing Director Uk at Xinfu Ltd About the […]

These 5 hot startups are looking to hire this week

Building a business from scratch is not easy and the number one factor that can influence the growth and development of a startup, is of course, talent. From management positions to sales and software development see which one of these positions would suit you the best:

Xinfu are confidants to the world’s top CEOs, and we partner with Fortune 500 companies to build inspiring and purposeful companies. Xinfu are not a traditional consultancy, we are entrepreneurial value drivers that create long term super returns for companies and are now moving towards providing training and education for next generation CEOs.

Job requirements:

This key leadership role will report directly to the CEO and work alongside the Head of Global Partnerships and lead a small operations team in the UK based in London. The successful candidate must be an entrepreneur with an ability to transform opportunities into value and with enough experience in building business development campaigns and leading tier one accounts in a consulting capacity. The candidate will also have digital expertise and will have been involved in digital transformation, or the convergence of digital properties. The candidate will also have experience in leading day to day operations across a global footprint.

Harry’s is a men’s grooming brand that was built out of respect for quality craftsmanship, simple design, modern convenience and for guys who know they shouldn’t have to overpay for a great shave. We are able to deliver exceptional value and experiences to our customers because we are vertically integrated. From grinding steel into fine razors blades at our factory in Germany to selling our products directly to customers on our website, we own the entire process.

Job requirements:

This is a unique time to join Harry’s at such an early stage of our journey in the UK. The role will provide an opportunity to be part of a fast-growing direct-to-consumer businesses and help grow our customer base through performance marketing campaigns. You’ll be joining our offline marketing team responsible for the success of channels such as inserts, podcast, print and partnerships. Reporting to the Offline Acquisition Manager, you will provide support in the management of marketing channels and quickly taking end-to-end ownership of your own campaigns.

To banish the parking headache once and for all, we strive to provide our drivers with a wide range of parking spaces to choose from. This means we work with a range of partner organisations to help them drive revenue from their parking assets.

Job requirements:

As a Junior Account Manager, your role will include but not be limited to:

Own the day to day relationship with a range of partners and respond to any internal or external queries that relate to an account

bySTORED is disrupting the storage and removals space, offering bespoke, on-demand services to London and we’re growing rapidly, having quadrupled our revenue this year with the same trajectory expected in the next 12 months.

Job requirements:

We’re looking for someone to join our young, dynamic team in Soho to own the creation of a single source of truth for all data, implement cross-departmental projects and use findings to directly influence strategy. Reporting directly to the UK Country Manager, you will have the opportunity to shape your own role from day one with a natural progression over time into a Head of Business Insights & Strategy role in time. This is a gem of a role for the right person.

We are on a mission to create a new kind of financial service. Growth Street is building a business banking platform to support the 5 million SMEs that power Britain.

We’re passionate about helping businesses maximise their potential, making applying for credit as quick and easy as possible. We have crafted an efficient marketplace for both borrowers and lenders, so they can get a better deal and a better service than the banks can offer. We are not a bank, and we are far more than an alternative lender. We are something better.

Job requirements:

We need Software Development Engineers with experience of delivering impactful results by building first rate software applications. We want to hire people who can see solutions not problems and work collaboratively across all areas of the business.

This is a “level 2” or “mid level” role. It is ideal for somebody who wants to focus on doing great quality work and grow toward having a high degree of influence, potentially at a senior level. Typically, mid level engineers are the people who frequently do design work, but spend the majority of their time writing a lot of high quality code. As your role develops you can expect more responsibility for technical design and coaching.

You keep hearing it everywhere: startups with entirely remote staff, big companies offering their employees flexible hours, freelancers working from all over the world. Yes, working remotely is the new way of working and in a world where staying connected has become a second nature, this might as well be the future and the demise […]

Considering working remotely for a startup? Here’s what you need to know

You keep hearing it everywhere: startups with entirely remote staff, big companies offering their employees flexible hours, freelancers working from all over the world. Yes, working remotely is the new way of working and in a world where staying connected has become a second nature, this might as well be the future and the demise of the traditional 9-5 schedule.

Recent research has found that remote workers are actually more productive than employees who head into the office every day. The reason why remote working is so popular is clear: it’s beneficial both for the employer and the employee, making it a mutually satisfactory setup that’s good for everyone involved.

So what are the things you should consider if you are thinking about switching to remote work for a startup?

Discipline

Yes, working from home is going to be filled with temptations: sleeping in, playing with pets, finding chores to do or simply browsing social media all day. This will not only leave you behind on work but will also negatively impact your work-life balance because deadlines, projects and tasks are still the same as in an office and they have to be met at the end of the day. Meaning you will have to put in the overtime to finish them, leaving you frustrated and disorganized at the end of the day. Discipline is one of the most important things when working remotely, it takes practice and time to fall into place, but once it does it will turn you into a machine of productivity.

Tech savy

Consider that everything you will do, from communication to project management will be done with different tools and software designed to make your remote life a lot easier. Tools like Slack, Trello, Evernote, Basecamp and many others will become a second nature to you, so it’s essential that you know how to get the best out of them. Even your simple email client can become a powerful tool if you understand all its gimmicks and personalize it for your work. Add the fact that you will have to manage all this on your own most of the time and you will understand why a certain degree of tech knowledge is indispensable when it comes to remote work.

Self motivated

Working remotely means you will take full responsibility for how you allocate your time, complete your tasks and meet your deadlines. You will of course have supervision but it will be far less intrusive than in an office, your manager will trust you to work independently and tackle your work without constantly being told how and what to do. A lot of startups look for people that are self-starters/have a high degree of independence, value continuous learning, and are receptive to feedback. “Hand holding” and waiting for specific instructions before moving forward to work is a sign that you are probably not fit for remote work.

Adept at communication

You can easily understand why is crucial to have great communication skills when being part of a team that is distributed in different locations (and even time zones). Being a good communicator is not limited to being good at interacting with people, but rather more focused on how you interpret and convey information, especially written instructions. For example an employer will be able to asses from the first phases of recruitment if you are a good communicator, based on how you approach the application process and how much attention you pay to what has been requested: cover letter, resume, mini interview, replying in a timely manner etc.

Don’t forget to regularly check out www.workinstartups.com to find out what are the latest startup vacancies suitable for you!